There was a time where it was enough to do one thing and do it well. When simply providing a solid product and service would support your business model for many years, if not decades. But the world has changed and continues to change… fast. Brands need to be planning ahead, but also ready to react when the competition start to encroach on their territory.
In this whitepaper we highlight how you can innovate intelligently and creatively, to not only help you to meet customer need but secure your brand’s future.
Innovation is central to developing, building and defending your USP, and businesses that fail to innovate will inevitably suffer the consequences. Brands that stand still soon lose the space they once held in consumers’ hearts, minds and trolleys, by failing to protect or build on what once made them great.
Slim down the fat words and focus
So many trends are defined by ‘fat words’ – phrases that seemingly encompass everything but mean very little. Take, for example, artisan. What was once reserved to food markets and indie stores has now been taken up by big businesses incorporating ‘artisan’ options into their standard offerings. Innovation has become similarly ‘fat’ over time, and is used to cover a multitude of activities, but there are few true innovators in the brand world.
Take a risk
With so many disruptors entering the market, it may seem as though innovation is all about ripping up the status quo and trying something completely new, but that’s rarely the case. Established brands can innovate based on what they already do, and while it’s important to keep an eye on trends, it’s also important to remember that trends are, by their very nature, transitory, so it’s important not to ‘trend-surf’ but to give a subtle nod to them without losing sight of who you are and where you eventually want to get to.
Innovation is dependent on being clear on what you stand for and focusing any change you make on delivering for your customer and your brand. It can’t be solely a reaction to action from your competitor or a way to deflect media or public pressure. Stay true to what your brand stands for, and what matters most to your customers.